There are core principles of risk management that regardless of the type of risk, are at the forefront of risk managers’ brains. Reinforcing these principles can help demonstrate how a robust risk management program supports the achievement of the organization’s mission and vision. Risk Management Defined Risk management is the process of minimizing or mitigating… Continue reading Principles of Risk Management
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Category: Agnostic
Enterprise Risk Management Framework, What is it?
Enterprise risk management (ERM) frameworks are types of risk management frameworks that relay crucial risk management principles. You can use an ERM framework as a communication tool for identifying, analyzing, responding to and controlling internal and external risks. An ERM framework provides structured feedback and guidance to business units, executive management, and board members… Continue reading Enterprise Risk Management Framework, What is it?
What is a Risk Management Framework?
Risk Management Framework, in simple terms, provides a balance between taking risks and reducing them while achieving business objectives. NIST Definition of Risk Management Framework According to NIST the Risk Management Framework provides a process that integrates security, privacy, and cyber supply chain risk management activities into the system development life cycle. The risk-based approach to control selection and specification considers effectiveness, efficiency, and… Continue reading What is a Risk Management Framework?
Third-Party Risk Assessment – What is It?
In today’s modern world, businesses rely increasingly on third-party vendors and partners. This collaboration brings incredible benefits but has a hidden cost: increased cybersecurity risks. Think about it: how many third-party tools and services do you use daily, personally, and professionally? Now imagine that number multiplied by hundreds, even thousands, for larger organizations. Here’s the alarming part: … Continue reading Third-Party Risk Assessment – What is It?
Third-Party Risk Management – What is It?
Third-party risk management (TPRM) is a type of risk management that deals with identifying and minimizing risks in relation to using third parties. TPRM can also be referred to as vendor risk management. TPRM is designed to help organizations discover unexpected risks. This is done by giving organizations information on how third parties conduct operations and what ways an organization is using the third party. Why is Third-Party Risk Management Important? … Continue reading Third-Party Risk Management – What is It?
What are iTech Preconfigured Solutions (iPS)?
Why were iTech Preconfigured Solutions (iPS) developed? Issue management can be daunting for organizations. This is why issue management solutions like OpenPages are popular among many organizations. While the OpenPages standard solutions can definitely make issue management easier, implementation time is less than ideal. As the old saying goes time is money and the longer… Continue reading What are iTech Preconfigured Solutions (iPS)?
How Solid Issue Management Can Help Your Team
There are many ways to handle risks, what remains constant is the importance of having a plan for dealing with them. Learn how to make your company’s issue management process more effective. Business is all about solving problems not creating them. However, you’re bound to encounter problems during any project. Now, it is possible to anticipate… Continue reading How Solid Issue Management Can Help Your Team
What is Regulatory Compliance Management Software?
Today’s compliance managers need powerful and effective Regulatory Compliance management software in a business environment defined by sustained market volatility and ever-increasing regulations. Companies need the ability to integrate enterprise-wide risk management processes and multiple regulations. Firms are witnessing a dramatic increase in active first-line users. Sometimes tens of thousands—are scattered across the organization while… Continue reading What is Regulatory Compliance Management Software?
Why You Need a Business Continuity Management System
Start using a business continuity management system today to prepare your enterprise for business continuity and protect employees in the face of disruptive events. Businesses are increasingly suffering from external and internal disasters due to a lack of business continuity planning. Unprepared organizations can suffer financial losses, negatively trending reputations and a large list of… Continue reading Why You Need a Business Continuity Management System
What is Data Privacy Management Software?
Before we learn about data privacy management software we have to understand what Data Privacy is. Data Privacy or Information privacy is a part of the data protection area that deals with the proper handling of data focusing on compliance with data protection regulations. Data Privacy revolves around how data should be collected, stored, managed, and shared… Continue reading What is Data Privacy Management Software?